Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Sees Large Growth in Short Interest

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 245,729 shares, an increase of 171.5% from the April 30th total of 90,515 shares. Based on an average daily volume of 236,746 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IPHA. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Innate Pharma in a research note on Tuesday, April 7th. Weiss Ratings raised shares of Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Finally, BTIG Research began coverage on shares of Innate Pharma in a research note on Thursday, March 12th. They issued a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Innate Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Innate Pharma Stock Performance

Shares of Innate Pharma stock opened at $1.83 on Monday. Innate Pharma has a 52-week low of $1.17 and a 52-week high of $2.63. The company has a 50 day moving average of $1.54 and a 200 day moving average of $1.68.

Innate Pharma (NASDAQ:IPHA) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $2.41 million for the quarter. On average, research analysts predict that Innate Pharma will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in Innate Pharma in the fourth quarter worth approximately $36,000. OLD Mission Capital LLC purchased a new position in Innate Pharma in the fourth quarter worth approximately $50,000. Finally, Jane Street Group LLC purchased a new position in Innate Pharma in the fourth quarter worth approximately $162,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Innate Pharma Company Profile

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body’s innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company’s lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.